COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 0331-01
Bill No.: SJR 5
Subject: Constitutional Amendments: Education, Elementary and Secondary
Type: Original
Date: December 29, 2000
FISCAL SUMMARY
| FUND AFFECTED | FY 2002 | FY 2003 | FY 2004 |
| General Revenue | $0 | ($52,560) | $0 |
| Total Estimated
Net Effect on All State Funds |
$0 | ($52,560) | $0 |
| FUND AFFECTED | FY 2002 | FY 2003 | FY 2004 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2002 | FY 2003 | FY 2004 |
| Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
Officials of the Office of Administration - Division of Budget and Planning, the Department of Revenue and the State Tax Commission noted that this proposal would not have direct effects on their agencies. They did note that the enabling legislation would have significant fiscal impact.
Officials from the Department of Elementary and Secondary Education (DESE) assume if this resolution would pass, the General Assembly would change the state school aid distributed through the State School Moneys Fund; however, there is not enough information available to determine a specific fiscal impact to this proposal. Without a formula, a cost cannot be determined.
Advertisement costs for the proposal would be $4,380 per newspaper column inch for three printings of the text of the proposal, the introduction, title, fiscal note summary, and affidavit. The proposal would be on the ballot for the November 2002 general election.
| FISCAL IMPACT - State Government | FY 2002 | FY 2003 | FY 2004 |
| Cost to General Revenue Fund
Secretary of State Newspaper Advertisements |
|
($52,560) |
| FISCAL IMPACT - Local Government | FY 2002 | FY 2003 | FY 2004 |
| $0 | $0 | $0 |
FISCAL IMPACT - Small Business
Small businesses could be affected by changes in property tax rates and by new sales taxes which might be adopted in enabling legislation for this proposal.
DESCRIPTION
The proposal would require the General Assembly, within twelve months of the effective date of the section, to establish a state school aid distribution formula, subject to certain requirements.
The proposal would authorize the General Assembly to enact, without further voter approval, an DESCRIPTION (continued)
increase in the state sales tax of up to one percent. Appropriations for state school aid would be increased no less than the estimated amount of the increase in revenues obtained the prior fiscal year from the increase in state sales tax.
This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space. The proposal would not affect Total State Revenue.
SOURCES OF INFORMATION
Department of Elementary and Secondary Education
Secretary of State
Department of Revenue
Office of Administration - Budget and Planning
State Tax Commission
Jeanne Jarrett, CPA
Director
December 29, 2000